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i have topped up and brought my average down to about 3.00.
All oil company's are on thier arse so did not expect any good news but if oil goes up or if new wells come online things will improve just look at the sp a year ago and look at it now as my way of thinking is things can't get worse only better.
http://www.proactiveinvestors.co.uk/companies/news/123678/circle-oil-plc-hoists-for-sale-sign-as-ifc-gives-debt-leeway-123678.html Oil in the ground as collateral? Let's hope the oil price continues to rise. Not too hopeful in the last couple of days with ministers from some oil producing countries putting their feet in their mouths with comments about production freezes not happening, etc..
Not a lot one can say about that. Terrible financials have got worse. Previous board have a lot to answer for. I think that the merger or takeover the only options unless we can farm out Mahdia of which there was no mention.
Today again far greater buys than sells. Must be the case now for 5 trading days in a row. The big investors have remained stoic with no sells. I would have thought that they would be regularly in touch with Mitch so must believe things are about to improve.
The usual tumbleweed blowing through this forum is an indication of the lack of interest.
Elland, I can only think that the buys have been of low value and there are a lot more shares to be soaked up before the share price starts to rise. The sells over the last few months have not been many but they have sometimes been of particularly high value and they need to be soaked up with buys before the share price rises. Alternatively Mitch needs to attract some big buyers at the current low share price. That will only happen when he can convince potential large buyers of the future profitability of Circle Oil.
Well Stockdale, I will endeavour too get there this yr and set off some fireworks. If you look at all the buys since Wednesday this week, I cannot understand why the share price hasnt moved ?
I shall not be able to go. Last year the share price was up around 13p coming up to the AGM. At just over 2p this year there will be some fireworks!
Hi all. Although modest trades, all buys today. I have e mailed Mitch for update on various issues. I will certainly be going to AGM this year which I expect to be somewhat earlier than last years. Stockdale, if you remember Ramerci went last year and kept us informed. Are you going ?
A few speculative buys today. Nothing of great value. Just some throwing a few quid at COP to see if they can double their money. Quite honestly if this company got it's act together they could quadruple their money. 10p? This was 13p and more not long ago. And with the company in a worse condition than it is now. And with the oil price down where it is now. Come on Mitch.
Frustrating isn't it. However some buying activity today looks better. This company must improve will price of oil increase although we still don't know the arrears payment situation in Egypt. Lack of news from the Board not helping.
Oil price has risen around 30% in the last month but COP hasn't moved up at all. About time that changed.
This has been a decent day trading. Still plenty of support here and the main investors still holding. CPR due soon which will be interesting
A few steps forward followed by a couple back but Brent now touching $37 and Crude above $34. Can only help COP recover. However their gas price is up around $10 so the prevailing market rate has little effect. Mitch needs to sort out the underlying problems pronto. This share price is truly frightening as Patrick has just noticed.
i just checked in here after several months.....wish i hadn't now !
http://www.hilltopmhc.com/circle-oil-plc-loncop-receives-gbx-21-50-average-price-target-from-brokerages/ All seven brokers covering Circle Oil are positive. Unfortunately that term 'over leveraged' is spooking investors.
Agreed. A company like Sound would only be interested in our Moroccon assets. The Tunisian assets are as yet unproven and Egypt is a basket case. We need to be patient here and hope that oil price rises to plus $50 which will make Mahdia more attractive. Lets also hope that Egyptian Government starts playing nicely.
..... but it could be a better scenario than not being taken over. When Sound say 'over leveraged' that could imply it is just too much for them to get involved or it could be a negotiating ploy. If companies which are in a good financial position and in the right location just don't want to touch Circle Oil because they are 'over leveraged' then Circle Oil is not going to be rescued and has to hope for a higher oil price and good income from Egypt, Morocco and Tunisia, and getting paid for that income in Egypt. That could be a worse scenario, but is the current one.
Well looking at their latest accounts its seems that unlike us they have cash and very little debt. I would hate to see us taken over cheaply but .....
Hi there. Trying to get the best price for COP? Maybe they are interested?
It was Proactive Investors presentation not the AGM. Apologies. But the answer to the question was the same
Hi Stockdale. At the AGM for Sound the CEO was asked about COP. He said we were over leveraged and vulnerable. Sound now big in Morocco. Could be interesting ?
Good day so far with well over 1.5m more buys than sells. Let's hope for a better week next. Oil price over $36 for the first time in a while. Fingers crossed.
The prospects of farm out in Mahdia strongly linked to oil price. Brent today recovered but retreated once near $36. We need sustained improvement to help Mitch with continued discussions with interested parties which hopefully include the Major players. Meanwhile Egypt continues to worry the market. How much are we getting paid and what are the arrangements for the arrears ? Solve the Egypt cash problem asap please Mitch. Meanwhile I have topped up recently in hope of enjoying a break in Palma over Easter